DECRED Price Analysis: DCR Token Soon To Outgrow The Bullish Pattern

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DCR token price value has been increasing as the resonance within the ascending triangle pattern became more frequent, just like the demand met near the support trendline. Every bullish-up movement created a new higher high, but it now faces resistance from the zone at $180.

The crypto asset has increased by more than 75% since the demand was met near $100. The bullish uptrend has resulted in the rise of all the EMAs in a bullish alignment. 

Investors could observe a price jump of 20% to 30% if the price breaks above the bullish pattern. Conversely, investors could observe a fall of the same magnitude or even worse if prices plunge dramatically.

The DCR Token is currently trading at $175, with a +4.69% market capital gain within the past day, projecting an increasing growth rate as the price struggles near resistance.

The intraday trading volume of DECRED has grown by 17% in the past 24-hours, indicating a surge of interest among investors with bullish intentions.

Uptrend Becomes Questionable In DCR Price Chart

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The 4-hour price chart shows that DCR token prices saw an increase in trading volume. However, the price action struggles to rise above the resistance zone marked in the chart. As evident by the frequent reversals from the zone.

DCR has displayed its strength, reaching $180 after hitting rock bottom of $100. As a result, the token price has seen a noticeable rise and may continue to rise until $250 after the pattern’s breakout.

The technical analysis of price action suggests that a bullish breakout could have difficulties rising above $200 to $250. However, if prices break the 50-day EMA, the bearish tendency could drop as low as $125 or even $100.

The RSI indicator (Bullish) indicates bullish momentum once RSI crosses above the oversold zone.

The ADX indicator signifies a boom in the momentum of the price trend.

Overall, the trend is growing in strength, and the underlying bullishness is rising, according to the ADX & RSI.

Conclusion – DCR Token Price may rise higher after the breakout of $1820, suggesting an uptrend that may shortly result in forming a new ATH.

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